New Data Forecasts Payments Market Expansion, Faster Volume Growth in 2017

ETA and Goldman Sachs Research have just published our annual ETA-GS Merchant Acquirer and ISO Survey live at TRANSACT 17.

The Survey collected key insights from merchant acquirers and ISOs of all sizes across the United States on emerging payments trends. Merchant acquirers and ISOs play a critical role in electronic transactions as they enable merchant adoption of electronic payment methods.

Among key findings, the survey revealed that nearly two thirds of the industry expects faster payment volume growth in 2017 as compared to 2016. Partnerships, especially for smaller entities, are expected to drive market expansion.

In two years, the fastest-growing verticals for integrated payments are expected to be education, government, and financial/legal services. Opportunities for further growth will be focused in the SMB marketplace. Greater integration of software within payment products and services will continue to be a force

Most notable, the study finds that 70% of respondents expect mobile wallets to succeed – important to note given that in past years, the survey results have been far more negative with respect to marketplace role for mobile (in 2016 only 49% of respondents indicated that mobile will succeed).The expectation is that larger technology players, such as Apple and Google, will drive growth and expansion of mobile payments. However, respondents also recognize that retailers will play a pivotal role in furthering expansion of mobile.

The full ETA-GS Survey results are a free benefit to ETA members and are available NOW. For information on ETA membership, please contact Melinda Widlake, 202-677-7411 or [email protected]